Wheeler & Associates, CPA, PA is a full-service accounting firm serving clients throughout the Jacksonville area, dedicated to providing our clients with professional, personalized services and guidance in a wide range of financial and business needs. On this website, you will find information about Wheeler & Associates, CPA, PA, including our list of services.
We have also provided you with online resources to assist you in various tax filing requirements and financial decision-making processes. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Jacksonville, Wheeler & Associates, CPA, PA has years of valuable experience assisting clients with their accounting and tax needs.
We have also provided you with online resources to assist you in various tax filing requirements and financial decision-making processes. These tools include downloadable tax forms and publications, financial calculators, news and links to other useful sites. Whether you are an individual or business in or around Jacksonville, Wheeler & Associates, CPA, PA has years of valuable experience assisting clients with their accounting and tax needs.
Services
For many years, Wheeler & Associates, CPA, PA has been providing quality, personalized professional services to individals and businesses.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and income tax planning.
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they anticipate.
Our dedication to high standards, hiring of seasoned tax professionals, and work ethic is the reason our client base returns year after year.
Our expertise ranges from basic tax management and accounting services to more in-depth services such as audits, financial statements, and income tax planning.
By combining our expertise, experience and the team mentality of our staff, we assure that every client receives the close analysis and attention they anticipate.
Our dedication to high standards, hiring of seasoned tax professionals, and work ethic is the reason our client base returns year after year.
Wheeler & Associates, CPA, PA provides a wide range of services to individuals and businesses in a variety of industries.
At Wheeler & Associates, CPA, PA, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Wheeler & Associates, CPA, PA's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
At Wheeler & Associates, CPA, PA, we strive to meet each client's specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.
From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities.
Wheeler & Associates, CPA, PA's accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.
Have you just started a new business?
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Did you know expenses incurred before a business begins operations are not allowed as current deductions?
Generally, these start up costs must be amortized over a period of 180 months beginning in the month in which the business begins.
However, based on the current tax provisions, you may elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred.
The $5,000 deduction is reduced by any start-up or organizational costs which exceed $50,000.
Following are some generally recognized financial planning tools that may help you reduce your tax bill.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
Charitable Giving - Instead of selling your appreciated long-term securities, donate the stock instead and avoid paying tax on the unrealized gain while still getting a charitable tax deduction for the full fair market value.
Health Savings Accounts (HSAs) - If you have a high deductible medical plan you can open an HSA and make tax deductible contributions to your account to pay for medical expenses.
It's possible there could be additional extensions, so check with your tax advisor for the latest information.
Trusts and estates need to file an income tax return for the 2020 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed.
Employers must establish a SIMPLE or a Safe-Harbor 401(k) plan for 2020 by this date, except in certain circumstances.
Individuals must file a 2020 income tax return (Form 1040 or Form 1040-SR) and pay any tax, interest and penalties due, if an automatic extension was filed.
Trusts and estates need to file an income tax return for the 2020 calendar year (Form 1041) and pay any tax, interest and penalties due, if an automatic five-and-a-half month extension was filed.
Employers must establish a SIMPLE or a Safe-Harbor 401(k) plan for 2020 by this date, except in certain circumstances.
Individuals must file a 2020 income tax return (Form 1040 or Form 1040-SR) and pay any tax, interest and penalties due, if an automatic extension was filed.
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